Jingwei Textile Machine 5 times times Premium acquisition of the Sino-Financial Trust shares approved

Although the CBRC released Jingwei spinning machine (000666.　　SZ) acquired a 36% per cent stake in the Sino-Financial Trust, but its 5 times-fold premium was questioned by the market. Despite the smooth progress of the trust in the purchase of Jingwei textile machinery, the market has not seemed to accept the 5 times-fold premium acquisition for investors.　　As early as January 27, Jingwei textile machine announced the acquisition plan and after the card, Jingwei textile machine share price continued to appear two.　　According to the then Jingwei Textile Machinery Bulletin, the company was on January 8, 2010 with the China Plant Enterprise Group Limited (hereinafter referred to as "China Plant Group") signed the "Equity transfer Agreement", the transfer price of 1.2 billion yuan total. As of August 31, 2009, the evaluation value of the Sino-Financial Trust is 3.567 billion yuan, its net assets carrying value of 566 million yuan.　　In this calculation, the evaluation premium of the Sino-Financial Trust is as high as 5 times times. Market analysts believe that Jingwei textile machines to 5 times times the premium obtained in the Sino-Financial trust is not cheap.　　China-Sik group has benefited greatly from the sale of these shares: in 2002, when the Sino-Financial trust registered and increased its capital, the China-Sik group won a 36.92% stake in the Sino-Financial Trust at a price of 120 million yuan.　　Since then, the China-Sik group in 2004 to 50 million of the Hazzard shares held in the share of the trust to increase the shareholding to 52.31%; In 2006 years, the group also received a 50 million yuan in the price of the Sino-Financial Trust 15.39% Equity, but the stake in August 2009 to complete the change registration.　　In accordance with the October 10, 2006 equity transfer price calculation, the Sino-Financial Trust 36% of the equity value is also less than 120 million yuan, and less than 4 years, the equity value has increased by more than 10 times times. However, after the publication of the above-mentioned acquisition plan, Dongxing Securities in a research report on the acquisition of the above recognition, that the company can achieve business diversification, reduce market risk. According to the data analysis at the time, the Sino-Financial Trust 2006 to 2008 business income growth rate of 133%, January 2009 to August revenue growth of 106% year-on-year. Growth is good, will become the company's main source of profit.